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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+0.00%
7d Period Avg+24.29%
swing±35.55%
LONG Phemex · now
+10.96%
7d avg:+12.84%
SHORT Hyperliquid · now
+10.96%
7d avg:+37.13%
Entry Spread Now
+0.066%
In your favorL ask 319.6100 · S bid 319.8200+$6.57 at entry
24h range +0.02%…+0.44% · median +0.12%
Long pays every4hShort pays every1h
LONGmaker0.010%/taker0.060%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
+$0.22
+0.00%
$Avg Daily PnL
+$6.65
+0.0665%
★Best Day
+$18.06
Sep 21
◎Open Interest
Phemex$3.19M
Hyperliquid$50.49M⚡Funding APR
+24.27%
annualized · funding only
⚠Execution Cost
−$46.33
entry + exit fees
⏱Payback
7.0d
to break even
◧24h Volume
Phemex$8.86MHyperliquid$35.06MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$46.33 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.